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Tata Power said its board of directors had on Monday approved the issue of non-cumulative, redeemable, listed, and rated non-convertible debentures (NCDs), not exceeding Rs 3,700 crore on a private placement basis.
In a communication to the stock exchanges, Tata Power said the NCDs may be issued in one or more tranches and may be unsecured or secured by creation of charge over the company’s assets.
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